Pearson Airport gets multibillion-dollar investment to modernize
Toronto’s airports authority has announced a multibillion-dollar plan to update and modernize Toronto Pearson Airport.
The Greater Toronto Airports Authority said it launched the first phase of procurement for Pearson LIFT, a plan intended to help the airport meet growing demand for its services.
"This is the very beginning of what will be a decade-long investment in our facilities and our terminals across the airport," said Deborah Flint, president and CEO of the GTAA.
"After many, many years, where we have had tired and aged assets across the airport facility, we'll be systematically investing in those, investing in them to bring them up to not just a state of great repair, but positioning them for the future."
Pearson saw 45 million passengers in 2023 and is expected to see about 65 million annually by the early 2030s, the GTAA said in a press release.
"Toronto Pearson has been meeting passenger needs by deploying extraordinary resources to many of its aged assets and facilities, which is not a sustainable solution with passenger traffic expected to grow," it said.
"Growth is coming to Pearson. It's coming across the global aviation industry and across North America," said Flint.
LIFT, which stands for Long term Investment in Facilities and Terminals, will begin with a program focused on "the fundamentals," said Flint.
The program will see the modernization of existing airport assets, including high-speed taxi lanes, a modernized airfield electric lighting and control system, and interim terminal facilities, according to the press release. The plan also includes investments in power generation to help the airport achieve net-zero targets.
"After what we experienced with the surge of growth and recovery, the challenges with our facilities in the recent past, we want to get ahead of that as best we can and start to develop those facilities that are going to help us expand sooner," said Flint.
These improvements are the ones that the GTAA is starting procurement for, while other projects are in earlier planning stages, Flint said.
Flint said LIFT has been significantly informed by the challenges of the past several years, as a surge in airline traffic resulted in delays across the industry.
"We're very committed to making sure that Toronto Pearson ... is not going to experience the challenges of the past that will hinder its growth and competitiveness," she said.
Over the long term, Flint said she anticipates some moderate increases in Pearson's Airport Improvement Fee, in consideration of the levels of such fees at other airports in the country.
The plan is poised to generate billions of dollars in economic benefits, said GTAA chairman Doug Allingham in the release.
"These necessary investments will strengthen the supply chain, open the door to new opportunities for Canadian businesses, and create good jobs right here in the GTA," he said. "Together, they will enable sustainable growth and competitiveness on a global scale."
This report by The Canadian Press was first published April 12, 2024.
CTVNews.ca Top Stories
BREAKING PM Justin Trudeau planning to oversee long-awaited cabinet shuffle on Friday: sources
Prime Minister Justin Trudeau is planning to shuffle his cabinet on Friday, sources confirm to CTV News. The long-awaited reconfiguration of Trudeau's front bench comes amid turmoil for the Liberal government after the shocking resignation of Chrystia Freeland, and as a few ministers juggle multiple portfolios.
Suspect in killing of UnitedHealthcare CEO will return to New York to face federal charges
The suspect in the killing of UnitedHealthcare's CEO was expected to face new federal charges Thursday once he arrives in New York, according to multiple people aware of the arrangements being made for an afternoon court appearance.
Potential scenarios for Prime Minister Justin Trudeau and the Liberals
The Liberal government was thrown into disarray this week when Chrystia Freeland stepped down from cabinet as finance minister, reviving calls for Prime Minister Justin Trudeau to step down or call an election.
Will the Amazon strike impact Canadian deliveries?
As Amazon workers at several U.S. facilities begin a strike, Canadian shoppers are likely wondering how the job action will impact their deliveries.
Google Maps image provides clue in Spanish missing persons case
Chance images captured by a passing Google Maps camera showing a man leaning over a large bag or bags in a car trunk with what could be a human body gave police an extra clue in a murder investigation in the central Spanish village of Tajueco.
Toronto police officer dies after suspected medical incident while on duty
The Toronto Police Service has confirmed that one of its officers died while on duty on Thursday morning.
Gisèle Pelicot speaks after ex-husband found guilty of rapes, sentenced to 20 years in France
Gisele Pelicot spoke of her 'very difficult ordeal' after 51 men were all found guilty Thursday in the drugging-and-rape trial that turned her into a feminist hero, expressing support for other victims of sexual violence whose cases don't get such attention and 'whose stories remain untold.'
Nancy Karetak-Lindell, former MP, appointed as Nunavut Senator
The first person to ever serve as the member of Parliament for Nunavut is being appointed to the Senate.
'This shouldn't happen': Calgary family seeks changes after WestJet accessibility incident
A Calgary woman wants WestJet to apologize to her daughter and to improve staff training on accessibility after an incident during their latest trip.